Delek Logistics Partners LP Stock Forecast
Delek Logistics Partners LP stock price down 1.34% on Monday
(Updated on Apr 29, 2024)
The Delek Logistics Partners LP stock price fell by -1.34% on the last day (Monday, 29th Apr 2024) from $40.17 to $39.63. During the last trading day the stock fluctuated 2.13% from a day low at $39.62 to a day high of $40.46. The price has risen in 7 of the last 10 days and is up by 6.02% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -41 thousand shares and in total, 107 thousand shares were bought and sold for approximately $4.25 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $40.03 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -18.29% during the next 3 months and, with a 90% probability hold a price between $29.46 and $32.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DKL Signals & Forecast
The Delek Logistics Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $39.30 and $39.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Delek Logistics Partners LP stock
Delek Logistics Partners LP finds support from accumulated volume at $39.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.84 between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: $37.87 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (DKL) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Delek Logistics Partners LP to open at $39.90, and during the day (based on 14 day Average True Range), to move between $38.81 and $40.45, which gives a possible trading interval of +/-$0.82 (+/-2.07%) up or down from last closing price. If Delek Logistics Partners LP takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.35 (0.71%) than the resistance at $39.99 (0.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Delek Logistics Partners LP will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.730. We will update the financials statements for Delek Logistics Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.30% in the first trading day after earnings release.
Is Delek Logistics Partners LP stock A Buy?
Delek Logistics Partners LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.869 Hold/Accumulate Unchanged
Predicted Opening Price for Delek Logistics Partners LP of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
$39.90 ( 0.694%) | $39.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DKL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 40.75 | 2.83 % | |
R2 | 40.43 | 2.01 % | ||
R1 | 40.23 | 1.51 % | ||
Current price: | 39.63 | |||
Support | S1 | 39.58 | -0.121 % | |
S2 | 39.38 | -0.624 % | ||
S3 | 39.06 | -1.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.35 | 4.34 % | |
R2 | 40.17 | 1.36 % | ||
R1 | 39.99 | 0.91 % | ||
Current price | 39.63 | |||
Support | S1 | 39.35 | -0.707% | |
S2 | 39.09 | -1.36% | ||
S3 | 39.07 | -1.41% |
DKL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | May 07, 2024 | May 15, 2024 | $1.03 | 2.60% |
2 | Feb 20, 2024 | Feb 29, 2024 | Mar 08, 2024 | $0.245 | 0.627% |
3 | Jan 24, 2024 | Feb 02, 2024 | Feb 12, 2024 | $1.06 | 2.33% |
4 | Oct 25, 2023 | Nov 03, 2023 | Nov 13, 2023 | $1.05 | 2.15% |
5 | Jul 26, 2023 | Aug 04, 2023 | Aug 14, 2023 | $1.04 | 2.55% |
FAQ
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